Big Business Study Guide
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Big Business Test Study Guide (USII.2b; 4b,d)
Big Business and Industrialization (use of machines to do work)
Life in Industrialized America
• United States is moving from being an agricultural nation to an industrial nation
• a large variety of products available to buy (because of national markets)
• more people leaving farms, moving to city to work in factories
• machines doing more of the work on farms and in the city, improving efficiency
• more job opportunities for unskilled labor in factories
• access to more consumer goods
Growth and Prosperity Factors (concentrated in cities) – made industries more efficient
• businesses started with raw materials (natural resources) such as coal, iron, wood, or cattle
• natural resources were shipped to factories on the railroad
• in factories or mills, raw materials became finished products to be sold
• more labor was available, so businesses could pay workers less
• assembly lines and cheap labor helped to lower production costs
• lots of capital (financial resources) was needed to start or expand a business
• railroads allowed products to be shipped out to national markets
• advertising tried to get consumers’ interest and expand the market
Inventions
• Bessemer process – make stronger steel more cheaply than before
• Thomas Edison – improved light bulb, figured out how to use electricity in factories
• Henry Ford – used assembly line to lower production costs for automobiles
• Alexander Graham Bell – developed the telephone to improve communication
Major Industrial Centers
• finished products: meatpacking in Chicago, steel in Pittsburgh, automobiles in Detroit, textiles in New England
• raw materials: cotton from Southeast, beef cattle from Texas, iron ore to steel mills
“Captains of Industry”
• Rockefeller = oil (Standard Oil), Carnegie = steel (US Steel), Vanderbilt = railroads, J. P. Morgan = banking, Henry Ford = automobiles
• some used vertical integration (Carnegie)– bought other companies so that they would control all the steps in making their products (including natural resources, transportation, factories, and markets)
• some created monopolies (Rockefeller) – companies that controlled most or all of a certain kind of business) by driving competitors out of business and buying other companies; this was unfair to the consumer
Rise of Big Business: Essential Facts Check
Part One – Growth Factors (Use the answer bank to fill in each blank.)
Answer Bank:
labor capital lower production costs railroads national markets natural resources
advertising factories
1. Businesses started with ____________________ such as coal, iron, wood, or cattle.
2. Natural resources were shipped to factories on the ____________________.
3. In ____________________ raw materials became finished products to be sold.
4. More ____________________ was available, so businesses could pay workers less.
5. Assembly lines and cheap labor helped to ____________________.
6. Lots of ____________________ was needed to start or expand a business.
7. Railroads allowed products to be shipped out to ____________________.
8. ____________________ tried to get consumers’ interest and expand the business’s market.
Part Two – Captains of Industry (Match each “captain of industry” with his industry.)
_____ 9. Andrew Carnegie A. banking or finance
_____ 10. Henry Ford B. oil
_____ 11. J.P. Morgan C. steel
_____ 12. John D. Rockefeller D. automobiles (cars)
_____ 13. Cornelius Vanderbilt E. railroads
Part Three – Industrial Centers (Match each city or region with the associated industry.)
_____ 14. Chicago F. automobiles (cars)
_____ 15. Detroit G. steel
_____ 16. New England H. textiles (cloth)
_____ 17. Pittsburgh I. meat-packing
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